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Article
Publication date: 17 July 2009

M. Michelle Gallant

The purpose of this paper is to demonstrate the tentative, highly contingent nature of the contemporary press to impose stringent anti‐criminal finance regulatory obligations onto…

1028

Abstract

Purpose

The purpose of this paper is to demonstrate the tentative, highly contingent nature of the contemporary press to impose stringent anti‐criminal finance regulatory obligations onto Canadian legal counsel.

Design/methodology/approach

The approach used in this work is to bring together problems associated with different areas of the anti‐criminal finance project in order to demonstrate how these problems compound in the context of the fusion of Canadian lawyers and anti‐criminal finance regulation. It draws chiefly on Canadian law and Canadian and international scholarship.

Findings

This paper shows that the tasking of Canadian legal counsel with additional regulatory burdens continues the pattern of developing legal strategies without paying sufficient attention to the actual results that the strategies produce.

Practical implications

This paper suggests that any continued construction of an anti‐criminal finance apparatus should be accompanied by enhanced study of its actual ability to generate results.

Originality/value

Most investigations of anti‐criminal finance developments assume the effectiveness of a strategy focused on detecting and intercepting resources linked to crime. Rather than assume its effectiveness, this paper demonstrates that an extraordinarily level of uncertainty animates that development.

Details

Journal of Financial Crime, vol. 16 no. 3
Type: Research Article
ISSN: 1359-0790

Keywords

Article
Publication date: 10 July 2023

Ana María Zorrilla Noriega and Marco Sánchez Arias

The paper enriches the understanding of the principal challenges faced in future lawyers' education in Mexico considering global trends, particularly from the perspective of…

Abstract

Purpose

The paper enriches the understanding of the principal challenges faced in future lawyers' education in Mexico considering global trends, particularly from the perspective of skills creation in diverse areas of legal practice.

Design/methodology/approach

The framework used draws on trends identified within an international collaborative research study in which both authors participated, titled “Developing a Blueprint for Global Legal Education”. This current paper stems from the premise that these recommendations can be further developed and better utilised if explored within a specific context. The methodology designed for this research consisted of two main components: a thorough analysis of the norms that regulate the education system and the professional practice in Mexico, and an extensive literature review that provided insights into the state of global trends in legal education.

Findings

This paper reveals that in Mexico having a well-designed and comprehensive legal framework is the first step to promote the creation of high-quality educational models.

Practical implications

The study analyses the current situation in Mexico within four global trends: (1) regulation of legal education and access to the profession; (2) building professional practice skills; (3) internationalisation of education and (4) incorporation of technology and responsible innovation.

Originality/value

The reflections are intended to promote better training of law students in the skills required to face the various challenges that the legal profession currently involves. This is under an approach that analyses global challenges and identifies the best practices to connect learning processes with in-demand professional skills.

Details

Higher Education, Skills and Work-Based Learning, vol. 13 no. 6
Type: Research Article
ISSN: 2042-3896

Keywords

Book part
Publication date: 22 February 2011

Devyani Prabhat

“Guantánamo lawyers” are a variegated group of lawyers from diverse practice settings, backgrounds, and beliefs. Drawing from interview and archival data, this chapter explores…

Abstract

“Guantánamo lawyers” are a variegated group of lawyers from diverse practice settings, backgrounds, and beliefs. Drawing from interview and archival data, this chapter explores why these lawyers have mobilized to work on Guantánamo matters. What processes engender “heterogeneous mobilization” (i.e., mobilization from different practice settings, and diverse professional, as well as political backgrounds, and beliefs) of lawyers? What are the impacts of such mobilization on the work of lawyers? Adopting a social movement lens and a contemporary historical perspective, this chapter identifies lawyers’ perceptions of their role vis-à-vis the “rule of law” as the most significant cross-cutting motivation for participation. The overlap in human rights orientation of legal nongovernmental organizations (NGOs) and the legal academy, and the corporate pro bono practice at top law firms, facilitates collaborative lawyering between lawyers. Despite some potential limitations of such collaborations, heterogeneous mobilization appears to contribute, at least in the case of Guantánamo, to a greater likelihood of resistance by lawyers to the retreat from individual rights in the name of national security.

Details

Special Issue Social Movements/Legal Possibilities
Type: Book
ISBN: 978-0-85724-826-8

Article
Publication date: 7 October 2019

Anastasia Suhartati Lukito

This paper aims to explain the regulations in Indonesia that apply to lawyers and other professional advisers in terms of their obligations as reporting parties of suspicious…

Abstract

Purpose

This paper aims to explain the regulations in Indonesia that apply to lawyers and other professional advisers in terms of their obligations as reporting parties of suspicious financial transactions with respect to money laundering and other financial crimes. As lawyers and other professional advisers offer services to the business community in Indonesia, they are vulnerable to becoming parties to illegal business transactions. The results could lead to bribery, graft, tax crime and corruption in Indonesia.

Design/methodology/approach

This paper explores and analyzes the obligations of lawyers and other professional advisers under Indonesian law, with particular reference to their obligations as reporting parties in efforts to prevent economic crime within the country’s business community.

Findings

Lawyers and other professional advisers, as reporting parties, can be viewed as the gatekeepers that inhibit economic and financial crimes. Consequently, a new perspective is needed for all of the legal professions so that they can protect themselves from the risks of being targeted by nefarious clients/offenders. To strengthen the role of these advisers, it is recommended that both a code of ethics and know your customer principle to be implemented.

Practical implications

This paper can serve as a resource that explores the functions of lawyers and other professional advisers as reporting parties whose aim is to prevent financial and economic crime in Indonesia.

Originality/value

This paper encourages lawyers, other professional advisers, and public and private institutions to implement a code of ethics, and also integrity and professionalism, with a view to preventing economic and financial crimes. According to the code, the functions and obligations of lawyers and other professional advisers include discouraging such offenses. The code becomes effective when legal professionals adhere to legal ethics and integrity.

Details

Journal of Financial Crime, vol. 26 no. 4
Type: Research Article
ISSN: 1359-0790

Keywords

Article
Publication date: 1 February 1989

Robert C. Hauhart

The legal profession has continued to receive a substantial share of media coverage and publicity over the last several years, much of it directed at the increase in numbers of…

123

Abstract

The legal profession has continued to receive a substantial share of media coverage and publicity over the last several years, much of it directed at the increase in numbers of law graduates and the often highly publicised starting salaries of recent law graduates at prestigious New York City law firms. Recent estimates indicate that there are now in excess of 650,000 attorneys working in the United States. The New York Bar Journal reported in its April, 1987 issue at page 56 that 36,829 law students graduated from American Bar Association accredited law schools in 1985. The report was based upon a study by the National Association for Law Placement. The study confirmed that the great majority of law graduates, 60.2% in 1985, would join private firms (at an average starting salary of $29,224).

Details

International Journal of Sociology and Social Policy, vol. 9 no. 2/3
Type: Research Article
ISSN: 0144-333X

Article
Publication date: 3 July 2017

Michael Newbury

The purpose of this paper is to highlight vulnerabilities in Australia’s anti-money laundering/counter-terrorism financing (AML/CTF) regime through Australia’s non-compliance with…

1184

Abstract

Purpose

The purpose of this paper is to highlight vulnerabilities in Australia’s anti-money laundering/counter-terrorism financing (AML/CTF) regime through Australia’s non-compliance with the Financial Action Task Force (FATF) recommendations on the regulation of designated non-financial businesses and professions (DNFBPs). It is intended that through examination of the justifications for and against AML/CTF regulation of DNFBPs, the paper will provide support for the position that Australia’s AML/CTF regime should incorporate regulation of DNFBPs.

Design/methodology/approach

The paper presents findings from research conducted in 2015 that focused on some of the principal arguments for and against the extension of Australia’s AML/CTF regime to DNFBPs. Review and consideration of the merits of these arguments is undertaken to support the conclusion that AML/CTF regulation should be extended to DNFBPs, in line with the FATF recommendations.

Findings

The current exemption of many DNFBPs from AML/CTF regulation perpetuates vulnerabilities within Australia’s AML/CTF regime; until this is addressed, criminals will continue to exploit these vulnerabilities and the regulated AML/CTF sector will continue to shoulder an unfair burden of Australia’s AML/CTF response.

Practical implications

This paper provides an objective assessment of factors for and against the regulation of DNFBPs in Australia. It may be of value to government policymakers, regulators, financial institutions and DNFBPs.

Originality/value

This paper complements existing research on this subject and provides a specific focus on some of the main arguments for and against the extension of Australia’s AML/CTF regime to specific DNFBPs.

Details

Journal of Money Laundering Control, vol. 20 no. 3
Type: Research Article
ISSN: 1368-5201

Keywords

Abstract

Details

Sociology of Crime, Law and Deviance
Type: Book
ISBN: 978-1-84950-889-6

Article
Publication date: 9 April 2020

Doron Goldbarsht

This paper aims to explore the ways in which the international standards in the field of anti-money laundering (AML) and counter-terrorist financing (CTF) have reshaped regulatory…

Abstract

Purpose

This paper aims to explore the ways in which the international standards in the field of anti-money laundering (AML) and counter-terrorist financing (CTF) have reshaped regulatory regimes in a globalised world.

Design/methodology/approach

This paper deconstructs the origins and development of international standards in the field of AML and CTF dealing with longstanding legal professional privilege. This paper adopts both qualitative and quantitative research methodologies. The qualitative aspect comprises a literature review of sources, including scholarly works, Financial Action Task Force (FATF) recommendations, reports and domestic laws. The quantitative aspect analyses a unique and comprehensive table reproduced below, that indicates Australia’s compliance with all the FATF recommendations over more than a decade with full alternation to FATF’s revisions of its recommendations.

Findings

This paper demonstrates that an understanding of the influence of the FATF norms can shed light on the departure from regular lawmaking processes and emerging forms of international governance. The conclusion suggests that tranche II is coming and Australia will amend it in domestic regime to comply with the international standard, applying the AML/CTF regime to the legal profession and thus interfering with legal professional privilege. The question is not if but when.

Originality/value

This paper fills the gaps in the existing literature by contemplating the future of legal professional privilege globally and in Australia, which provides a case study of a regime that does not yet comply fully with AML and CTF international standard. This approach differs significantly from that of other literature in the field, which deals comprehensively with the theoretical foundations of legal professional privilege, as well as its practicalities and limitations, without considering the influence of the international non-binding norms.

Details

Journal of Money Laundering Control, vol. 23 no. 3
Type: Research Article
ISSN: 1368-5201

Keywords

Book part
Publication date: 30 September 2019

Eric D. Bostwick, Morris H. Stocks and W. Mark Wilder

This study investigates whether or not accounting and legal decision-makers at publicly traded US firms exhibit a professional affiliation bias with respect to their selection of…

Abstract

This study investigates whether or not accounting and legal decision-makers at publicly traded US firms exhibit a professional affiliation bias with respect to their selection of business service providers. Executives at NYSE or NASDAQ firms who were affiliated with the accounting profession, the legal profession, or neither profession indicated their likelihood of using one of three randomly assigned types of firms (i.e., a CPA firm, a law firm, or a firm with both CPA and attorney partners) to provide five selected business services. The five business services represent the range of accounting and legal services that firms often outsource: audit, tax representation, mergers and acquisitions, trade regulation/interstate commerce, and litigation. We find that executive level decision-makers at publicly traded US firms do exhibit a professional affiliation bias in the selection of business service providers and that this professional affiliation bias is stronger in attorneys than in CPAs. The fact that all respondents were NYSE or NASDAQ executives, rather than students or another surrogate population, provides additional relevance and generalizability to our findings. Identifying this bias can help executives avoid suboptimal initial selection decisions and/or inaccurate performance evaluations of external business service providers.

Article
Publication date: 1 April 2001

Helen Xanthaki

Directive 91/308/EEC has been hailed by many European Union commentators as an extraordinary advance in the cause of EU integration, not least because it is still one of the few…

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Abstract

Directive 91/308/EEC has been hailed by many European Union commentators as an extraordinary advance in the cause of EU integration, not least because it is still one of the few Directives actually in force in the field of EU criminal law. From the point of view of money laundering control, the Directive has been the EU's main weapon in its endeavours to ensure that the liberalisation of the financial markets and the consequent freedom of capital movements ‘is not used for undesirable purposes, such as money laundering’. Notwithstanding the undoubtful success of the Directive to introduce a minimum level of money laundering control mechanisms in all 15 EU member states (some of which had not even criminalised money laundering before transposing the Directive), however, Directive 91/308/EEC is no longer considered an adequately progressive legislative text for the advancement of further money laundering prevention to a pace equal to the one currently in force both at the international level and within some of the EU member states. The legislative response of the EU to the need for increasingly progressive legislation has been the Draft Money Laundering Directive, which having been passed by the Council and the Parliament is in the final stages of becoming part of EU legislation.

Details

Journal of Money Laundering Control, vol. 5 no. 2
Type: Research Article
ISSN: 1368-5201

11 – 20 of over 18000